NKTR ascending triangle setup

M

ManhattanTrader

been following this guy's setups. he seems to be very good. trendline has been broken yesterday and a trade placed

NKTR ascending triangle

Short 400 at $6.93. ($2772)

Initial target $6.25. (GAIN $272) If broken add 200 shares

Target $5.71 (GAIN w/out scaling in: $488)

Initial stop at $7.20 (LOSS $108)

Initial R/R: 2.5:1 (initial target and initial stop)
 
trade is completed. not bad for 30 minutes of work

Net profit: $268.
Amount risked: $112
R/R: 2.39:1
Days in trade (market days): 8
Time comitted to trade: 30 minutes.
20 minutes identifying tradability, risk/reward, targets, s/r.
10 minutes monitoring progress and news.
 
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